Energy Transfer (NYSE:ET) Stock Price Up 0.9% – Should You Buy?

Shares of Energy Transfer LP (NYSE:ET) traded up 0.9% during trading on Wednesday . The company traded as high as $18.89 and last traded at $18.85. 1,376,362 shares traded hands during trading, a decline of 90% from the average session volume of 14,471,982 shares. The stock had previously closed at $18.68.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ET shares. Barclays raised their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Stifel Nicolaus raised their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Wells Fargo & Company boosted their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Royal Bank of Canada upped their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, Citigroup lifted their price target on Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.55.

Energy Transfer Stock Up 1.1 %

The stock has a market capitalization of $64.80 billion, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The stock has a fifty day moving average price of $19.62 and a 200 day moving average price of $18.23.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. On average, research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a $0.325 dividend. The ex-dividend date was Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a yield of 6.88%. Energy Transfer’s dividend payout ratio is 101.56%.

Hedge Funds Weigh In On Energy Transfer

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can lifted its position in Energy Transfer by 12,090.8% during the fourth quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company’s stock valued at $244,005,000 after buying an additional 12,353,441 shares during the period. FMR LLC lifted its position in Energy Transfer by 44.0% during the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after acquiring an additional 10,195,768 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in Energy Transfer during the fourth quarter worth about $79,113,000. BNP Paribas Financial Markets grew its holdings in Energy Transfer by 36.7% in the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock worth $185,594,000 after purchasing an additional 3,106,631 shares during the period. Finally, Citigroup Inc. increased its stake in shares of Energy Transfer by 45.9% during the third quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock valued at $153,787,000 after purchasing an additional 3,013,973 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

About Energy Transfer

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.